tv Business Deutsche Welle March 7, 2019 7:15pm-7:30pm CET
he watching the dead news coming to you live from berlin next business news africa to see for that if you can and remember i encourage you to look at our web site that's dot com and remember you can also follow us on facebook and on twitter i'm from me in the news team a pleasure having a company. we make up over a week watches of office and a bunch of times we are seven seven percent. want to shape the continent's future. partners and join african youngsters testing share their stories their dreams and their challenges. to the seventy seven percent of the platform officer in charge. he takes it personally
you end up with all the wonderful people and stories that make the game so special . for all true fans. my. take on more than football online. is africa walking into a debt trap critics say china's massive involvement in infrastructure on the continent is becoming dangerous for the nations that china gives generous loans to . germany's helping all mexican bernama produces farmers who produce according to ethical standards become preferred top was is this a model for africa an arguer culture to. this is a business africa. africa's largest telecom company m.t.n.
says it plans to raise one billion dollars from asset sales over the next three years following a massive jump in profit for twenty eighteen south africa based firm is set to float its nigerian unit later this year as part of a compromise with authorities for failing to cut off unregistered sim card users m.t.n. is also currently involved in a battle over two billion dollars in back taxes in nigeria which accounts for a third of its revenue the south africa based firm is considered one of the country's corporates success stories. signs of china's involvement have long become commonplace key infrastructure construction sites all across africa beijing has funded several projects across the continent with huge loans china has handed out some one hundred forty three billion dollars in loans to regional government governments between two thousand and twenty
seventeen roads ports rail tracks or airports which in turn are being built by chinese companies and it's not just china doing business in africa most of the foreign direct investment does come from the u.s. which has invested a round fifty four billion dollars per year since twenty ten that's right six hundred american companies active in south africa alone where there is relatively well educated labor market and a growing cohort of young bias africa is also a lucrative market for the e.u. the bloc exports many of its subsidized agriculture of products to the continent but has been destroying domestic food markets in african countries in the process whether it's china the u.s. or the e.u. everyone has their own interest in the continent but in china's case that plays a big role critics say that china is not only giving massive loans to african countries to help finance infrastructure projects run by chinese firms it's also
about influence so let's bring in alexandra de mysie he's a founding director of the china africa advisory in cologne summit critics say that china is creating a truly death trap for many african countries that is the true. you know i do not fully agree to this assumption yes it's true that china has given quite a lot of money as you just mentioned in the last seventeen years in that you know one hundred forty three billion us dollars this money has been invested in a lot of vital infrastructure projects has enabled a lot of african countries to become one of the biggest growing markets today. china is investing in africa also not on you know on the touristic measures but also to create a future market that is being done through these loans but it doesn't mean that china is becoming a debt trap for african countries and frankly african countries have
a lot of debt to other institutions namely too much let's write it usually but also to private banks that have given quite a lot of money to african countries other single countries that you see as especially in danger it. yes we can say that there are several african countries that have there could become problems you know in taking in a lot of chinese money especially would come engineer djibouti but also countries like zambia however we also need to see where this money is being invested in or in the example of djibouti the money is being invested in in huge support infrastructure but also cross country cross country infrastructure project train road projects that will enable entire sup. country or a sub region of african continent to become you know economically vital area
so it's we cannot just say it's a death trap but we can also say china's a neighboring african countries are actually to get their vital infrastructure they require through this money so when we speak about their tribe we need to look you know historical development as well where is actually this money coming from that has caused all these you know debt to african countries we know that a lot of african countries have that in the tune of four hundred and ten billion u.s. dollars that are not entirely coming only from china. and other missi thank you very much you're welcome thank you. south africa's current account deficit as fall to the worst level in three years the government has been struggling to increase its funds amid stalling tech tax revenue and fixed investments south africa's shortfall is expected to keep pressure on its currency the rand which has declined by thirteen percent against the us dollars since the start of last year
and while africa's most advanced economy recently emerged from recession the weaker currency could worsen in terms of trade cheapening exports and making imports more expensive. in zimbabwe many are currently living below the breadline and with the recent hike in food prices bread itself is now out of reach for many recently the price of bread nearly tripled due to a major food shortage and it's now considered a luxury product for some just last month the u.n. source two hundred thirty four million dollars to assist the country with drug drought and emergency relief. and we're going to go over to mexico briefly with a story that might prove interesting to farmers all over africa as well rising production costs when dealing prices and sinking profits have left banana growers in mexico struggling to survive in a bid to help germany has said it will enforce strict rules on companies import
importing the bananas especially with regards to ethical standards in banana production and that's where farmers in africa might find a lucrative market nation as well. the livelihoods of one thousand people depend on these bananas each property sells for just five dollars barely enough to cover the costs leaving little to reinvest in more efficient technologies. and managing director here says it's unsustainable. they view them in theory but as years in the price of bananas is extremely low we usually know more than the cost of production. on it was to. get more expensive to grow year on year as a result family incomes are falling and then when this was a moment monitors and resources the only. it's why the german government is getting
involved in economic cooperation minister get spent two days hearing the problems first hand rural plantations in mexico plenty of these bananas end up in europe with supermarkets taking up to ninety five percent of the profit leaving struggling farmers in their wake and i think. what we get for peace or spare but not tough to see how we manage three hundred fifty england. three hundred fifty banana tosses when we work twelve hours a day. that's about four hundred fifty dollars per month on twelve hour working days on other plantations the conditions are often washed beilin wants to guarantee better standards and a fair payment for the producers the government has asked seven thousand companies how far they're willing to go if the companies fail to respond voluntarily in the coming months and mr miller wrote proactively set new standards. for your
we must begin with a fairly decent standard chairman retail chains that sell in europe and in germany must guarantee at the beginning of the chain here on the plantations. you know child labor living wages and basic environmental standards would all be shipped grimstone bugs. standards that could be pivotal in eradicating rural poverty and latin america. over to europe brags it will affects how people in britain eat one third of the british fruit and vege comes from the continent that will have to change because after a heart breaks a fresh produce could no longer be fresh when it's being held at ports for long cost customs inspections. greenhouses or the transportation chain is so well organized that british consumers can always look forward to fresh tomatoes but farmers are concerned that could have properly changed when kryten leaves the e.u.
at the end of the month. get that and look at that i will have to work taking into account the possibility that the u.k. is treated like a non e.u. country it would be like exporting to china or japan or australia. he said the owner and it would be a very difficult situation above all because the volumes exported are very high and now there's a lot of uncertainty about what's going to happen. last year greenhouses in spain's ameria region delivered some two hundred eighty five thousand tons of produce to britain. and farmers that grow exclusively for the british market fear huge losses after practicing. the dakotas doing. this by this reply is really doing well and they have to look for the new markets and to buy displays over there all that exporters and is not easy. with just three weeks to go before bracks said
it's still unclear how much extra time will be needed for deliveries or whether the produce will still be fresh when it reaches british tables and many farmers here worried that could put their future in jeopardy. and the other business news stories making headlines around the world the european central bank has lowered its do is own growth forecast for this year and twenty twenty e.c.b. presidents mario druggies said he expected just one point one percent expansion this year down sharply from the bank's december prediction of one point seven percent for the number of americans filing for unemployment benefits unexpectedly fell last week the labor department said that initial claims slipped by three thousand to two hundred twenty three thousand their idea cations that employment growth in the u.s. is slowing off the last year's robust gains. chinese tech
company huawei has filed a lawsuit against the u.s. government over a band that restricts government agencies from using its products the u.s. alleges that could use its equipment for spying and criticizes the company companies' close ties to the chinese government the chinese friend denies the allegations. and that's it from me and the business africa seems like you very much for watching the news is next why the office a quick look at markets a lot. more
intrigue international talk show for journalists to discuss the topic of the week it's not international women's day we're taking a close look at the women in power and asking the better politicians what impact is the next generation of young female politicians likely to have to join us on quadriga show for. sixty minutes on. my in but. it's not easy to go to another country you know nothing about i don't do this because we
can't stay on as well or that was a play that. coslet global news that matters d w made for mines. this is dave happy news africa coming up in the next. the minute after a resulting victory for president obama do worry in nigeria is opponent who will back up pushes on with his challenge to the results we'll look at how the allegations of fraud are hitting this weekend's important regional battle. and fighting terrorism we have the story of them.